We've been asked to open a Premium Fund Trust Account for a customer who owns an insurance agency. As near as I can tell it would work similarly to an IOLTA or Real Estate Trust Account. However, I attended one of the IBA-sponsored seminars done by PBS on account titling and this type of account was not mentioned.

Does anyone have information about these or can direct me to the location in the Iowa Code that addresses these?

Thanks!

Nevermind!

I found out a PFTA is a type of account in the State of Illinois.